Finance Minister Nirmala Sitharaman In the letter, GFIA noted that...
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NCLT gives all parties 8 days to complete procedural issues for ownership transfer of RCAP to IIHL
The procedural documentation and filings for the last leg of the...
100% FDI: Govt expects insurance industry to grow at 7.1% annually over next 5 years outpacing global and emerging market growth
This enhanced limit will be available to those companies which...
LIC shares decline for 5th day; mcap falls below Rs 5 lakh cr-mark
LIC had fixed the issue price of its shares at Rs 949 apiece after a successful IPO, which was over subscribed nearly 3-times when it closed on May 9 Mumbai: Shares of Life Insurance Corporation of India (LIC) continued to fall for the fifth day running on Monday and...
Govt raises premium for flagship insurance schemes PMJJBY, PMSBY
The premium rate of PMJJBY has been revised upward to Rs 1.25 per day, translating into an increase from Rs 330 to Rs 436 annually The annual premium for PMSBY has been hiked from Rs 12 to Rs 20, an official statement said New Delhi: The government on Tuesday raised...
LIC posts a record profit of Rs 42,000 from equity trading in FY 2021-22, to focus more on non-par policy
Raj Kumar.MD, LIC, explained that the exercise to determine Indian embedded value as on March 31, 2022 is under progress and is expected to be completed by June 30, 2022. As soon as the exercise is completed, LIC shall make the required public disclosures of the same...
IRDAI approves 8 new insurance players, final licenses soon: Chairman
`Debasish Panda, chiarman, IRDAI The industry has now 56 primary players and 12 foreign reinsurers ``We would like to have many more players including micro insurers, insurtechs, niche and differentiated players who can operate with a much smaller capital and...
LIC net profit falls 18% to Rs 2,409 crore in Q4 FY2021-22,declares 15% dividend
The corporations' first year premium increased 32.65 per cent to Rs 14,663.19 crore and its renewal premium increased by 5.37 per cent to Rs 71,472.74.05 crore in the reporting quarter NEW DELHI: Life Insurance Corporation (LIC) of India has seen its net profits...
LIC launches `Bima Ratna’, a non linked, non-participating, individual, savings life insurance plan
The plan is available for a term of 15, 20 and 25 years. premium paying term is 4 years less than policy term. plan provides 25% of basic sum assured as survival benefit at the end of each year for the last two years of policy term (T-2 & T-1) , provided the...
III and Thailand Insurance Institute sign MOU for nurturing professionals
Both the institutions look forward to working together in the area of risk management and insurance learning, development of course material, certification/ accreditation through conduct of examinations and spreading insurance awareness through capacity building as...
With 74.30% Combined Ratio, GIC Re logs a record underwriting profit of Rs 2,314 crore in Q4 FY 2021-22
Devesh Srivastava, CMD, GIC Re announcing company's results at a press conference in Mumbai on Friday The reinsurer had a record net profit of Rs 1,795 crore during Q4 FY 2021-22 as compared to a loss of Rs 28.48 crore in the year ago period Indicating GIC Re's...
LIC to declare financial results for FY22 on May 30
The insurance behemoth, which was listed on the bourses earlier this month on May 17, said the board will consider and approve the audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2022 The meeting will also consider...
UK climate stress test for banks, insurers is the toughest yet: Fitch
Non-life insurers and reinsurers are exposed to physical risk through property and catastrophe losses, which are becoming more frequent and severe due to climate change Life insurers are more exposed to the transition risk that affects the assets in their investment...